Skip to main content

Elon Musk’s Confusing Tweet that Crushed Bitcoin

Bitcoin crumpled after Tesla cofounder Elon Musk posted a controversial tweet that was misinterpreted by most bitcoin investors. The value of Bitcoin plummeted to $42,000 on Monday after Musk’s statement, but later rebound after he clarified that Tesla hadn’t sold its holdings.

The value of the cryptocurrency surged to $45,000 following an explanation made by the world’s richest person. “Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their #Bitcoin holdings,” Musk wrote on Twitter prompting the lowest plunge ever since February 2021.

Bitcoin’s value was resuscitated from further plunge when he tweeted: “To clarify speculation, Tesla has not sold any Bitcoin.” 

Musk triggered speculations when he tweeted on Wednesday that Tesla would halt accepting Bitcoin as payment for its electric vehicles over token’s insanity in energy consumption. 

Earlier own, Musk attracted criticism from environmentalist over his promotion of cryptocurrency, which consumes lot of energy during crypto-mining. 

Unconfirmed sources indicate that Musk is contemplating to mine bitcoin in space using solar-powered systems and source internet services from SpaceX Starlink.

Why Musk has Dumped Bitcoin?

Elon Musk seems to be falling out with Bitcoin as he strives to uplift dogecoin. The SpaceX CEO and Tesla cofounder has magical spell, deciphered in his brief tweets that impact global crypto fad. His twitter posts have seen the rise and fall of several cryptocurrencies.

Tesla started accepting Bitcoin after Musk’s declaration on March. His pronouncement came after Tesla bought Bitcoin valued at $1.5 billion. The initial crypto-investment pushed the value of bitcoin higher.

The volatility of bitcoin’s value might be a major impediment towards its acceptability in major retailers. Crypto investors believe that Musk has a rich background regarding cryptocurrencies and there is more to be discerned over his several tweets. 

Musk’s Monday announcement also impacted to massive sell-off in several cryptocurrencies including dogecoin, ether and XRP. It’s undisputable that Musk is one of the major drivers of the bitcoin success. Musk has expressed his interest in dogecoin – a cryptocurrency that was coined from a joke in 2013.

Twitter explodes over Bitcoin crush

Crypto investors are now worried over the manipulation of crypto value by Musk. His tweets have proven to be a major shaker to the crypto market. The world tycoon proofs to know more than he can divulge to the world.

Bitcoin trended on Twitter for the better part of Monday as social media enthusiasts delved deeper into discussing the impact caused by Musk’s post.

One person wrote on Twitter: This is a game #Bitcoin then @elonmusk will buy again at drop price.. #bitcoin is gambling, not against buying of #Bitcoin but if you not good in gambling/ game you ganna loose chief.”

Another person tweeted: Sold my @Tesla stock today to buy more #Bitcoin. Bitcoin don’t need Elon.”

Labels:

Comments

Post a Comment

Popular posts from this blog

How Human Noise Kills Marine Species, as revealed by Scientists

Scientists have warned that the discord of noise made by humans is harming marine species .  A comprehensive assessment revealed that large noise from human activities was as harmful as pollution, overfishing and climate change .  The study that was conducted by the Journal Science exposed how marine animals can hear from far distances than they can see or smell. According to a report published in the Guardian, most of the marine life uses sound to catch prey as well as attracting a mating partner.  Prof Carlos Duarte of King Abdullah University in Saudi Arabia argued that: “Marine animal can only sea up to around 10 meters, smell up to around a hundred meters, but they can hear across the entire ocean basins.” The research concluded that sound “is very important in the marine ecosystems, and noise is pervasive, affecting animals at all levels .” The increasing cacophony in the marine habitat is interfering with how marine animals respond to various survival...
8 comments
Read more

Carbon dioxide to Make Jet Fuel, Study Reveals

Photo Source: twitter.com Aircrafts release a lot of carbon dioxide in the atmosphere which contributes to climate change. A research that was conducted by Science News and reported on December, 22 2020 stated that there was a new iron-based catalyst that has been invented to convert carbon dioxide into jet fuel. It is only a matter of time that carbon dioxide pumped to the atmosphere by planes could be sucked and used to power the same. The air travel’s footprint in carbon emissions could be tremendously curtailed, if the carbon dioxide that is released is recycled to generate fuel. As per Science News reports, Air transport contributes to about 12 percent of the entire transportation carbon-related emissions. Unlike cars, aircrafts cannot carry bigger batteries which can be run on electricity generated from wind or solar panels. The current breakthrough in the conversion of carbon dioxide to fuel involves cheap ingredients such as iron and transformed through a single s...
3 comments
Read more

Why World Tycoons Should Emulate Microsoft founder, Bill Gates, in the Battle against Climate Change

The silent biggest global pandemic is global warming. Global problem deserves global attention; and that is why world moguls and leaders should use their influence to initiate change that can positively impact the world. Microsoft founder Bill Gates has consistently advocated for environment conservation and has been a key personality in the battle against climate change . Gates keen focus has been to increasing access to clean electricity in remote parts of the world. As a key defender of the environment, he is quoted by the Guardian saying that: “The idea of adding new electricity capacity- you can’t just go build coal plants.” The Guardian reported that Gates likes using private jets because he can get affordable fuel for flight. He revealed that he has already footed the bill of carbon footprint to a group dubbed Climeworks , a firm that captures up direct air in Iceland. Gates pointed out that the future of vehicles travels lie with electric cars; but excluded the el...
Post a Comment
Read more